Loan defaulters won’t get credit facility from bailout package: Bangladesh Bank

The central bank today said defaulters will not get any credit facility from the Tk 30,000 crore bailout package declared for the industrial and service sectors.

Borrowers who have rescheduled their bad loans more than three times are also not allowed to get loans from the bailout package. 

It is intended for businesses affected by the ongoing financial crisis that has resulted due to the global coronavirus pandemic.

Bangladesh Bank set strict guidelines for the bailout package declared by the prime minister last week.

The duration of the bailout package is three years.

The interest on loans of affected customers, however, can be waived for up to one year.